Amalgamated Bank Trims Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Amalgamated Bank lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,937 shares of the scientific and technical instruments company’s stock after selling 258 shares during the quarter. Amalgamated Bank’s holdings in Teledyne Technologies were worth $4,148,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares in the last quarter. Jennison Associates LLC bought a new stake in Teledyne Technologies during the fourth quarter valued at about $19,310,000. State Street Corp lifted its position in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after acquiring an additional 37,884 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Teledyne Technologies by 217.5% in the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after acquiring an additional 36,867 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after acquiring an additional 30,157 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $538.00.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,190 shares of company stock valued at $16,386,864 over the last ninety days. 1.88% of the stock is owned by insiders.

Teledyne Technologies Stock Up 2.9 %

Shares of TDY opened at $515.60 on Friday. The business’s 50 day simple moving average is $487.79 and its 200-day simple moving average is $463.40. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The stock has a market capitalization of $24.15 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $5.44 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.